Author Question: The gross domestic product (GDP) of a country measures the _____. a. market value of all ... (Read 58 times)

dmcintosh · **on:** Jun 30, 2018

The gross domestic product (GDP) of a country measures the _____.
a. market value of all intermediate goods and services produced by resources located within the country
b. market value of all goods and services produced by resources located outside the country
c. market value of all final goods and services produced by resources located within the country
d. value added to the economy by intermediate goods and services minus original cost
e. value of the total sales of financial assets

Question 2

Which of the following statements concerning the supply of labor is true?
a. The supply of labor is determined by the prevailing wage rate.
b. The labor supply curve is downward sloping.
c. The wage rate has no effect on the supply of labor.
d. None of these.